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Karl Lagerfeld has his own teddy bear. “Bears are very nice, as long as you are nice to them,” Lagerfeld tells W.

Steiff, is producing the limited-edition Karl bear, 2,500 of which will be launched in Neiman Marcus in September, for $1,500. Each boasts a signature Steiff gold button in the ear and five pivoting joints—an innovation Steiff unveiled at the 1903 Leipzig Toy Fair.